The growth in the median house price declined relatively sharply to 5.7% year to year in August from 10.4% year to year in July, signally a levelling off in house price growth.
This means that, even though with all the other financial factors in place, house prices continue to climb, albeit very slowly, this could change quite simple when and if any further tightening of monetary policy at the next Monetary Policy Committee meeting in October, which is seen by many as a strong possibility, will change the financial environment and thus the outlook for the housing market going forward.
C'mon TITO help us out here man.
Well this can mean its time to buy your dream house as the prices are more realistic.
Seriously, we think the inflationary control measures are fine and we can see that we are at the peak of interest rate hikes and should within the next 12 months see the downward trend come into place.
This together with decent prices could really spark some interesting property times.
TITO, thanks. Lets go downwards sooner. We want to see a 10% interest rate again and at least compete with everyone else in the world and get our slice of action